Stock market today: US futures slip as focus turns to looming jobs report amid Mideast wait

Published On Oct 3, 2024, 7:00 AM

US stock futures are dipping as investors look ahead to an important jobs report while anticipating economic implications from ongoing tensions in the Middle East. The S&P 500, Dow, and Nasdaq futures are all down by about 0.3% to 0.4%. Even after a temporary calm regarding the Middle East crisis, investors remain cautious, especially with a recent spike in oil prices. The upcoming jobs report is particularly critical as it may influence the Federal Reserve's future interest rate decisions. Corporate news includes significant declines for Levi Strauss and Tesla, both experiencing challenges that led to lower stock prices.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

Given the concerns about the labor market and potential economic impacts from rising oil prices and geopolitical tensions, the short-term outlook for the market appears cautious. Investors may want to be wary of full exposure to risky assets until after the jobs report is released.

LEVIView LEVI chart on TradingView

Negative

Levi Strauss has experienced a sharp decline in their stock due to disappointing forecasts. This trend suggests potential ongoing struggles for the company, influencing the stock's performance negatively in the near future.

TSLAView TSLA chart on TradingView

Negative

Tesla's shares continue to slide amid downbeat delivery figures. The near-term outlook is negative as this may impact investor sentiment and sales performance.

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